When your objective is to play for "score" or "ranking"

Your friend wants the same thing as advantage players want. Conserve capital and profit from the comps.
Quote

Originally posted by: MoneyLA
Look roadtrip, please read again my original post. I simply referred a question that came out of a discussion with a friend of mine who is a craps player and lives in NY. As I said in the initial post: "This one came to me out of left field, because I never had any kind of discussion like this before." And I wrote: "OK, this is beyond me."

Well guys its still beyond me. And I dont care anymore. Ive done my job -- I referred a question. You gave me answers. It's over, and thank you very much.

but just as an aside: my friend as I said is a craps player who is very unhappy with how his tier score and comps are measured, and when I told him how my tier score and comps increased dramatically with the same budget playing VP it got his attention. My problem with getting rated at table games is that you, the player, must be vigilent and constantly monitor that your bets and time are being recorded properly. He has had the same problems.

Now roadtrip, in an attempt to answer your question, his goal was not to win money. his goal was to find a way to play a game where for a limited amount of money he could maximize tier points and comps. In other words, find a game that he could break even on every play -- and he could play a million hands and score a lot of points without a loss. he honestly doesnt give a hoot about video poker. he throws dice. he plays in AC and at Foxwoods and he plays every weekend. But when I tell him that here at the end of March I already have 80,000+ tier points (and he understands the system) he is amazed that his play at craps hasn't earned him anything like that.

thats how I understand his motivation. after this discussion, another friend of ours suggested finding a rapid roulette game that would give credit for both black and red simultaneous bets, since my other friend was told black/red would not be rated at a live game. the small house advantage on the black/red game would also fit his needs for what he wants to accomplish.

before I got into VP about five years ago, I only played craps. And I perfectly understand what is going on with craps players being "under rated."



Maybe so, but you wrote the line I've repeatedly questioned, and requested clarification about.

"I think there is a difference".

Those were your words, so I am asking you to provide clarification. :::shrug:::

And although you did take the time to reply, you have still shed no light on my specific question, your comment, your words, your meaning.

Or are you now saying it was your friend's choice of words which you repeated on his behalf?

I truly do not understand what you originally meant when you wrote it. "I think there is a difference" are your words, not your friends. I'm asking what you mean by that. You think there is a difference.

So what is it? What is the difference? Explain please.

I just Don't Get It. All I want is to be able to understand what it is you meant. A better understanding.

I used to have a teacher who said, "There is no such thing as a stupid question."

So once again I'm asking you to enlighten me.

If I wrote it, or said it, and it confuses someone, I'm happy to clarify and/or explain my comments when asked by someone who may not understand.

I just do not understand your comment, "I think there is a difference". All I am asking is "What is the difference?"





thanks






roadtrip, I dont get it either. I dont care. Enough. Discussion is over. thanks.
MoneyLA

I apologize if this sounds redundant because I chose not to read 3 pages of bantering...

Here's the way I see it. Your friend is looking to maximize the ability to earn tier points with minimum effect on his bankroll.

You list 33.8% chance of a winning hand by holding a jack (about 1 in 3) vs. 28.7% with deuces (slightly more than 1 in 4).

However, I think it is better to list what the chances are of hitting a J by holding a J vs. hitting another 2 by holding the deuces. (for our sakes and purposes, I think it would be safe to assume the same proportional ratio of 1/3 for the Jack, and 1/4 for the deuces) Yes...you can't hit a royal holding the deuces, but you can't hit trip or quad deuces holding just the jack (because you'd be discarding 2 deuces)

Once again, I am keeping the idea of earning points in mind over proper strategy.

Yes, proper strategy dictates you keep the 2's

I will keep this in perspective of betting units (I will explain later on)

Thus, if your friend gets 60 hands of J 2 2 10 5. If the Jack was kept, 20 out of the 60 hands would pay even money. The rest would be lost. So 300 units wagered (5 units per draw, 30 draws), 20 hands pay even money, therefore, 100 units would return and 200 units lost.

Same 10 hands, but deuces are kept. If the 2 is kept instead of the Jack, then 15 hands would pay out. But it would pay out 15 units per hand. So, 300 units wagered, 15 hands won, 15 credits per winning hand, therefore 225 units won and 75 units lost.

Based on this analysis it pays to keep the deuce, even if the proportion was changed from 1/4 to 1/6, it still makes sense to play the deuces.

The last step is determining long term vs. short term. What denomination is being played? $1, $5, $100, $5,000?? In other words, if I play high denomination VP, I may not be looking for long term variance. If I was playing $5,000 per unit at max ($25,000 per dealt hand), and I was dealt J 2 2 10 5, I would be holding the Jack.

However, I don't think your friend would be playing that level. So I think it's still safe to say that correct strategy is the proper play. Only because it takes into account the rewards vs. the risk.

Sorry for the lengthy reply

-Shooter

There was a discussion along these lines on vpfree a couple of years ago. There actually are different strategies for different goals. What is normally played with what is known as a "max EV" strategy. However, there also exists something called a "min risk" strategy.

I don't remember exactly how this was computed at the moment but I'm sure it takes into account the variance of various holds. Someone could go back and search vpfree archives if they were really interested.
thanks shooter. glad that youre around. yes, you correctly set out the logic for following correct strategy, which I dont disagree with.

what intrigued my buddy was that given each individual hand holding the jack only was the better play. and over time (the course of many hands) holding the deuces is the better play.

I never got into my friend's strategy for long term vs short term play. heck, he's a craps shooter. he was looking for a way to get more "points" for a low risk.

take care.
Quote

Originally posted by: crapshooter
MoneyLA

I apologize if this sounds redundant because I chose not to read 3 pages of bantering...

Here's the way I see it. Your friend is looking to maximize the ability to earn tier points with minimum effect on his bankroll.

You list 33.8% chance of a winning hand by holding a jack (about 1 in 3) vs. 28.7% with deuces (slightly more than 1 in 4).

However, I think it is better to list what the chances are of hitting a J by holding a J vs. hitting another 2 by holding the deuces. (for our sakes and purposes, I think it would be safe to assume the same proportional ratio of 1/3 for the Jack, and 1/4 for the deuces) Yes...you can't hit a royal holding the deuces, but you can't hit trip or quad deuces holding just the jack (because you'd be discarding 2 deuces)

Once again, I am keeping the idea of earning points in mind over proper strategy.

Yes, proper strategy dictates you keep the 2's

I will keep this in perspective of betting units (I will explain later on)

Thus, if your friend gets 60 hands of J 2 2 10 5. If the Jack was kept, 20 out of the 60 hands would pay even money. The rest would be lost. So 300 units wagered (5 units per draw, 30 draws), 20 hands pay even money, therefore, 100 units would return and 200 units lost.

Same 10 hands, but deuces are kept. If the 2 is kept instead of the Jack, then 15 hands would pay out. But it would pay out 15 units per hand. So, 300 units wagered, 15 hands won, 15 credits per winning hand, therefore 225 units won and 75 units lost.

Based on this analysis it pays to keep the deuce, even if the proportion was changed from 1/4 to 1/6, it still makes sense to play the deuces.

The last step is determining long term vs. short term. What denomination is being played? $1, $5, $100, $5,000?? In other words, if I play high denomination VP, I may not be looking for long term variance. If I was playing $5,000 per unit at max ($25,000 per dealt hand), and I was dealt J 2 2 10 5, I would be holding the Jack.

However, I don't think your friend would be playing that level. So I think it's still safe to say that correct strategy is the proper play. Only because it takes into account the rewards vs. the risk.

Sorry for the lengthy reply

-Shooter


By holding the J alone, you also get shots at a flush or a straight. Not so with holding a pair. Yes, by throwing away the pair of dueces you ruin any shot at trip or quad deuces but you open up other possibilities.
The stat referenced said you had a 33.8 % chance of a winning hand. You seem to be factoring in only a pair of jacks as the possible winning hand. It's quite possible I'm misinterpreting your post, if so please let me know.

BillyRyan

I was taking into consideration hands that you would or won't get by holding one set of cards over another.
And I was making a general assumption.
You're right, you can't get certain hands, but I factored in the difficulty and assumed that the other hands would offset each other. (i.e It's a lot easier to get two pair and full houses when you're already holding a pair than it is to get it by just holding a jack. On the other hand, holding a Jack allows one to get other possibilities.) So I just assumed the chances and payouts of getting bigger paying hands would offset each other regardless if you hold a jack or deuces.

-Shooter
guys, Im sure someone can figure out how many "winning hands" can be made by holding just a jack, vs how many winning hands can be made by just holding the pair of deuces. And I think that is how the figures in Grochowski's book were determined. Clearly, there are more winning hand possibilities with the single jack, but those winning hands include a break even hand either pairing the jack or drawing another high pair. The argument for holding the pair of deuces is that any winning hand involving that pair of deuces will bring more money than a break even hand including two pair, three of a kind, etc.
What makes this intriguing is that the goal isn't to make money (granted, I'm sure he would prefer winning over losing) but to mitigate as much risk in order to earn points.

I think it boils down to long term vs. short term and denominations. I think an avid poker player can do about 20 hands a minute (1,200 hands an hour) If you play 5 hours a day, that's 6000 hands a day.
If you gamble 30 days in a year, that's 180,000 hands a year. 20 years, and now we're talking 3.6 Million hands. In that case, long term does make a difference.

I mean, when I gamble, I do all the "Sucker bets". Yes, that does make me a "Sucker" , but I'm not in Vegas to gamble "long term". I'm a short term gambler wanting big results.

My 2 cents

-Shooter
Already a LVA subscriber?
To continue reading, choose an option below:
Diamond Membership
$3 per month
Unlimited access to LVA website
Exclusive subscriber-only content
Limited Member Rewards Online
Join Now
or
Platinum Membership
$50 per year
Unlimited access to LVA website
Exclusive subscriber-only content
Exclusive Member Rewards Book
Join Now